Prime Import Loan

Prime Import Loan

An import loan is a short-term cash advance (with recourse) that enables the customer as an importer to meet the customers immediate payment obligations under usance letter of Credit presentation .

Prime Import Loan
6 %
Interest Rate
Prime Import Loan
8.22 %
Base Rate
Prime Import Loan
14.22 %
Total Interest Rate

Last Updated Date: May 17, 2022

Nabil Bank Ltd

Nabil Bank Limited is the first private sector bank in the nation and has been operating since July 1984. With the aim of expanding the international standard of modern banking services to different segments of society, Nabil was integrated. In pursuing its goal, through its 118 points of representation, Nabil Bank offers a full range of commercial banking services. In addition to this, Nabil has a presence throughout the nation through over 1500 Nabil Remit agents. As a leader in the introduction of many revolutionary products and marketing concepts in the domestic banking industry, Nabil started a period of modern banking with customer loyalty calculated as a focal target while doing business. A highly skilled and seasoned management team oversees the bank's affairs, including day-to-day affairs and risk management. The bank is completely equipped with advanced technology, including international standard banking applications enabling e-channels and e-transactions. For all its stakeholders, clients, shareholders, regulators, societies, and employees, Nabil is going forward with a vision to be the 1st option provider of full financial solutions. Nabil is committed to providing its stakeholder's excellence in a variety of areas, not just one measure, such as profitability or market share. It is mirrored in its Together Ahead Brand Pledge.

Prime Import Loan

REQUIRED DOCUMENTS

  • Photograph (2 copies each)
  • Citizenship and/or Passport
  • Firm/Company Registration Certificate (if applicable)
  • PAN/VAT Certificate (If applicable)
  • Article of Association (AOA) and Memorandum of Association (MOA) (if applicable)
  • Partnership Deed (if applicable)
  • PAN Certificate of the individual
  • Location Map (Residence & Office)
  • Copy of renewed/valid blue book of commercial vehicle along with route permit
  • Latest tax paid receipt or tax clearance certificate for all income (where ever applicable)

What Is Importer Loans ?

An import Loan is a short-term cash advance (with recourse) that enables the customer as an importer to meet the customers immediate payment obligations under a sight or usance Letter of Credit presentation or Import Documentary Collection. Under such arrangements, Standard Charted Bank finances the customers import commitments by making payment against the Letter of Credit or Documentary Collection and receives payment from the customer at a pre-determined date in the future. Here, the credit period between the time that the bank provides finance and the time the customer repays the bank, should be sufficient for the customer to either manufacture goods for final sale or for direct sale to end buyers. Nepal is an import based economy. Most of the raw materials for manufacturing are import based.  Trust Receipt Loans are easier and popular to finance imports through Letters of Credit facility for trading and manufacturing houses. Such loans are provided for maximum of 120 days of documents retirements. Importers loans are provided for imports under payment mode of TT, Demand Drafts and DAP facility.

Benefits Of Importer Loan

  • This will allow the customers more financial resources to clear goods from the port and manufacture, store or arrange for final sale to the end buyer
  • The supplier is independent of the process of raising finance. They need not sign any documentation, but receive payment as per the original contract terms through the Letter of Credit or Bill for Collection
  • As the customer is able to reimburse the suppliers on a sight basis or when the tenor is due, this will increase the bargaining power of the customer - typically in terms of the contract price.

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